Celebrating 10 years! 2007-2017

Just learned that my assistant is making $140,000

So the contracts admin was assigned as my report and as part LionelHutz11/12/11
i'm guessing you make less? so this is a george costanza sit JJPisdead11/12/11
No - I am the GC, I make a lot more. But I know the going r LionelHutz11/12/11
Not a good sign. I have seen it many times: when a company ImoothereforeIm11/12/11
bump, wonder how OP company stock has been since post? skankhunt4212/05/18
I wonder how much does the contracts admin make these days? imoothereforeim12/05/18
My area (relatively low COL) a moderately experienced CA is wutwutwut12/05/18
what are you wearing? JJPisdead11/12/11
What's the breakdown of the comp? If her salary is about wawaweewa11/12/11
Funny _ I had a drink after work with 2 of my fellow associa Bostonlawyer.211/12/11
god forbid somebody with decade+ of experience, who is relia dietcoke12/05/18
wow, old post. Still at same company, and the assistant is lionelhutz12/05/18
Maybe your company is one of the few that isn't run by a bun debtslave1512/06/18
Was about to say this thread is such a boomer complaint. therewillbeblood12/06/18
I am not a boomer - solid gen X. lionelhutz12/06/18
no - we generally pay minions at the minion rate. the contr lionelhutz12/06/18
Let's say you lived in flyover land. What kind of comp woul shouldalearnedmath12/06/18
1/3 or 1/4 of 1.4 million, which is the median price to purc triplesix12/06/18
1/4 of $1.4 million is only $350k. No way I would move to t lionelhutz12/06/18
Wow. And firms wonder why they can’t find staff that does qdllc12/10/18
Labor largely has no value because of immigration and global wearyattorney12/10/18
AMEN. quality is almost irrelevant and definitely not worth whiteguyinchina12/10/18
It's good enough until it is not... triplesix12/12/18

LionelHutz (Nov 12, 2011 - 11:26 am)

So the contracts admin was assigned as my report and as part of the annual review, I was given her comp info. Between base, bonus and stock, she is pulling in around $140,000. She has been at the company a super long time and is a good contract admin, but this seems pretty generous for a 9 to 5 job even in a high cost city.

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JJPisdead (Nov 12, 2011 - 11:34 am)

i'm guessing you make less? so this is a george costanza situation?

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LionelHutz (Nov 12, 2011 - 11:39 am)

No - I am the GC, I make a lot more. But I know the going rate for contracts admins and I was a bit shocked on how well she is doing. It does seems to be a good sign that my company treats people pretty well.

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ImoothereforeIm (Nov 12, 2011 - 2:11 pm)

Not a good sign. I have seen it many times: when a company reaches certain level of excess -e.g. paying an employee twice the normal rate- that's usually the start of the long slide down.

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skankhunt42 (Dec 5, 2018 - 12:35 pm)

bump, wonder how OP company stock has been since post?

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imoothereforeim (Dec 5, 2018 - 1:39 pm)

I wonder how much does the contracts admin make these days? $300K per annum?

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wutwutwut (Dec 5, 2018 - 2:02 pm)

My area (relatively low COL) a moderately experienced CA is roughly 50k. Note this person (intakes requests, tracks through progress and finalizes docs, records executed docs) is not necessarily the same as a contracts paralegal (has some drafting ability, knows without attorney input which changes to standard clauses are acceptable and/or how to offer alternatives to changes requested by the counter-party), who might make ~70k.

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JJPisdead (Nov 12, 2011 - 12:52 pm)

what are you wearing?

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wawaweewa (Nov 12, 2011 - 2:16 pm)

What's the breakdown of the comp?

If her salary is about 2/3 of the 140k, then I don't see a problem here in an abstract sense.
As to her actual worth? They could probably get some 28 yr old who can work 80 hours a week fort hat pay and produce at at least the same level.

If they're overpaying for assistants they're probably also overpaying for those above them.

Is this an industrial/ commodities based corp?

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Bostonlawyer.2 (Nov 12, 2011 - 5:54 pm)

Funny _ I had a drink after work with 2 of my fellow associates. None of us have had a raise for 3 years. They were complaining that we have support staff with high school ed making a ton more than the attorneys...just because they have been there a long time.

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dietcoke (Dec 5, 2018 - 2:22 pm)

god forbid somebody with decade+ of experience, who is reliable, competent, and hard-working make less, but not less enough, than a 25-year-old from a preftigious institute of legal scholarship!

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lionelhutz (Dec 5, 2018 - 11:24 pm)

wow, old post. Still at same company, and the assistant is still there but doesn't report to me anymore so I don't know her comp. Not sure if she still gets stock grants but I assume her comp has gone up reasonably since 2011. Thankfully my comp has gone up a lot since 2011.

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debtslave15 (Dec 6, 2018 - 11:16 am)

Maybe your company is one of the few that isn't run by a bunch of greedy dickheads and actually believe in paying their minions a fair salary. Hard concept for a boomer to grasp I'm sure, but they do exist.

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therewillbeblood (Dec 6, 2018 - 11:22 am)

Was about to say this thread is such a boomer complaint.

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lionelhutz (Dec 6, 2018 - 11:25 am)

I am not a boomer - solid gen X.

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lionelhutz (Dec 6, 2018 - 11:24 am)

no - we generally pay minions at the minion rate. the contract admin has just benefited from being at the company a really long time and getting salary increases along the way. Most of the long tenured people (20-25 years) do better than new hires, but it really depends on skillsets and other random factors. When I joined, I came in too low on base, but I negotiated a 35% jump one year and a 10% jump another year, plus other annual increases and my annual stock grant has tripled along the way, so I am doing fine. but some generic lower level admin types don't make much by Bay Area standards. Finance and IT salaries for new hires in recent years have gone up a lot, indicating that we were below market and couldn't attract new hires.

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shouldalearnedmath (Dec 6, 2018 - 12:15 pm)

Let's say you lived in flyover land. What kind of comp would you need to relocate to bay area today knowing you'd have to find housing and what not in today's market? Would you do it for your current comp?

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triplesix (Dec 6, 2018 - 12:24 pm)

1/3 or 1/4 of 1.4 million, which is the median price to purchase a home.

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lionelhutz (Dec 6, 2018 - 1:47 pm)

1/4 of $1.4 million is only $350k. No way I would move to the Bay Area today for that. And $1.4 million will not buy you a house in any nice area. My house is fully paid off and my current comp is about twice the amount you indicate, so I am fine here. but I have no idea why people move to the Bay Area unless they think they have a good chance to hit the stock option lottery or have housing figured out.

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qdllc (Dec 10, 2018 - 8:05 am)

Wow. And firms wonder why they can’t find staff that doesn’t suck.

People are worth what they do for you. Yes, a 20-something can’t do the same job for less, but do they know the ins and outs of your business? Do they know how you like things done? Can they train a JD in how to do most anything in the office because the other lawyers and partners think that’s beneath them? If so, don’t whine about how well the are paid.

I left a firm to work for the state. They needed two people to replace me. Neither are that good. Their paralegal is leaving for another firm after not getting decent raises but working her butt off and dealing with the office drama. More money in a different town on the beach. I understand the cost of business issue, but short-sheeting good workers for the bottom line is how you lose your best staff and then cry the blues that things are falling apart because the new staff doesn’t work as well or you have to hire more people to get the same amount of work done.

Overpaid and does nothing all day? Okay, that’s fair to complain about, but if a woman with 25 years and nothing more than a GED is making over 6 figures and pretty much holds the office together is your issue, QYB and buy her a BMW as a Christmas bonus.

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wearyattorney (Dec 10, 2018 - 11:08 am)

Labor largely has no value because of immigration and globalization. The only except is if you work in the public sector and vote for money. Politicians aren’t paying you because of what you do, but because you vote.

There are rare exceptions to this, eg reaching the apex of your respective field, having connections, etc. By and large though how well you do something doesn’t have much value anymore if you are working for other people (and even if you are working for yourself). The key is other people have to work for you.

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whiteguyinchina (Dec 10, 2018 - 12:27 pm)

AMEN. quality is almost irrelevant and definitely not worth twice the price.

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triplesix (Dec 12, 2018 - 2:18 pm)

It's good enough until it is not...

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